Here’s How Wealthy India’s Rich Are Going to Be by 2025

India’s stock of billionaires is set to double over the next 10 years, a recent report says.

The number of Indians who fit into the wealth category will increase from 78 in 2015 to 160 in 2025, according to The Wealth Report from London-based real estate consultancy Knight Frank.

India will also see a 105% increase in its ultra-high net-worth population by 2025 to 12,341 from 6,020 in 2015. Someone is considered an ultra-high-net-worth individual if they are worth $30 million or more.

Over the past 10 years, emerging economies have experienced the fastest pace of wealth generation and that trend is likely to continue, the report said. India experienced a 340% surge in its population of people worth more than $30 million from 2005 to 2015, compared with the U.S.’s increase of 32%.

Last year was not so wonderful for the superrich in most countries. The report said global data from 2015 showed the first annual dip in ultra-wealthy populations since the financial crisis in 2008. Only 34 of the 91 countries included in the survey saw a rise and almost 6,000 people dropped out of the worth $30 million-or-more bracket, including 6,317 in India.

“This downward shift reflected slower economic growth and the more volatile financial climate. The rate of global economic growth slowed in 2015, while growth in equity, commodity and other asset prices also decelerated,” the report said.

The U.S. will hold the top spot for wealth generation, with a 30% increase in its ultra-high net worth population by 2025, with 85,427 living there, versus 65,713 in 2015. China, can expect a 75% increase, from 13,013 in 2015 to 22,773 in 2025.

Meanwhile 247,800 millionaires will be created in India, the report said. That is behind the U.S., with 1.25 million millionaires, and China, where 490,500 millionaires are expected to be minted.